Poh Kong Holdings is set to climb towards its 8-month high after breaching above the MYR0.82 level yesterday on significant trading volume – forming a fresh “higher high” bullish pattern. If the breakout sustains, the stock may resume its uptrend towards the highest level since Apr 2022 at MYR0.90, followed by the MYR1.00 psychological level. Conversely, the counter may reverse its direction if it falls below the MYR0.78 support, forming a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 4 Jan 2023